Mike Alkin - Talking Uranium

Mike Alkin of Sachem Cove Partners stops by The Business Brew to share his journey in uncovering the uranium investment thesis. Bill found out about Mike when he began listening to Mike's podcast in 2018/19. At that time, Mike was telling everyone that would listen about how asymmetric the opportunity was. Mike interviewed industry insiders, other investors, and laid out his thesis in public. Bill found it inspiring.

This conversation dives deep into the complexities of the uranium market. The discussion includes a detailed analysis of nuclear power, supply-demand dynamics, and the industry’s challenges. Mike also provides valuable advice for young analysts and highlights the significance of contrarian investing. Additionally, they explore recent advancements in nuclear energy and the evolving markets of EVs, wind, and solar energy.

As always, this episode is for educational and entertainment purposes only, not financial advice.

Michael (Mike) Alkin is a principal of Sachem Cove Partners, LLC, the general partner of Sachem Cove Special Opportunities Fund, LP. He is also the Chief Investment Officer of Public Equities of Lloyd Harbor Capital Management, LLC, the investment manager of the Fund, and in that role is responsible for the Fund’s investment process. He has nearly 30 years of hedge fund experience with extensive investing experience across many cyclical industries. Prior to Sachem Cove and Lloyd Harbor, he was an analyst and partner for 7 years at Knott Partners. Prior to Knott, amongst the firms where held similar roles were Walker Smith Capital, Zweig-DiMenna, and Windsor Partners. Detailed Show Notes

00:00 Welcome to the Business Brew

00:08 Introducing Mike Alkin and the Uranium Thesis

00:48 The Inspiration Behind the Podcast

01:21 Disclaimer and Acknowledgements

02:32 Deep Dive into the Uranium Market

05:26 Challenges and Insights in the Uranium Industry

09:13 Understanding Market Dynamics and Investor Behavior

12:50 The Journey to Conviction in Uranium Investment

17:40 The Role of Nuclear Power in the Energy Market

42:39 The Impact of Geopolitical Risks on Uranium Supply

44:32 The Fuel Cycle and U.S. Fuel Buyers

45:23 Challenges with Industry Forecasts

46:11 Presenting at the NEI Conference

47:09 Confrontations and Convictions

48:56 Expert Networks and Market Misconceptions

52:10 Global Nuclear Power Dynamics

01:01:24 Kazakhstan's Uranium Production

01:10:42 The Future of Nuclear and Renewables

01:18:01 Investment Strategies and Advice

01:22:26 Conclusion and Final Thoughts